We bought in a buyers market. We had a lot of ups and downs. The seller couldn't afford to sell, so we lost that house. We walked from another house. Ultimately, we ended up in the right place, but it was a roller coaster. Luckily there was inventory, we looked at over 100 houses, but a lot of the inventory as crappy expensive houses that would need 100K upgrades immediately. Good luck!
If you aren't sure, my advice is to get out ASAP to avoid losing earnest money.
Post by arehopsveggies on Mar 23, 2021 11:37:04 GMT -5
When we were looking for our current house, DH really liked this one and i haaaaaated it. I cried because I did not want it. But it had all our must haves and was under budget.
Now I love it. I have more useable space than a lot of my friends have. My neighborhood isn’t what I thought I wanted, but it’s safe and quiet. The ugliness we have worked on over the years. This house has definitely grown on me.
Post by ellipses84 on Mar 23, 2021 11:56:01 GMT -5
I was a seller that had a buyer back out after inspection. We had multiple offers the first day on the market. None of the issues were major and we agreed to fix some / offer credit for others, but since we wouldn’t fix every little minor cosmetic thing that came up on inspection, they walked and kept their earnest money. Later I found out they put an offer on my friend’s neighbor’s house a few blocks away before they told us, so clearly it was because they found something they liked better. It really sucked from our perspective because we lost weeks of the house being on the market during prime season and we were trying to move out of state. The other potential offers had found other houses by then. We used the time to make improvements so there’d be no issues on the next inspection and it took a few weeks to sell. I’ll echo that if you want to back out, sooner is better than later. Talk to your realtor about the best option.
Post by Doggy Mommy on Mar 23, 2021 12:12:37 GMT -5
What is it that you aren't sure about?
We bought this house 10 years ago, and off and on have had remorse. Some things we could have controlled and some we couldn't. The street is busier than we would like and that is our biggest regret. Aesthetics have been less important than I thought. We have updated things slowly and it's starting to look the way we want it to look. When we've been home so much this past year, we've really appreciated more about it, like the size is great and we love backing to a greenbelt. In the end, we haven't moved because a lot of things about the house really do work for us. I'm doubtful we could never find the "perfect" house (in our price range).
My advice would be to really think about your must haves and what you are and aren't willing to compromise on.
My husband was in love with our house and I was in like. I'm talking he was full heart eyes emoji during our showing.
11 years on, I LOVE MY HOUSE. Took me about 6 months after we moved in to truly adore it. My hesitations had more to do with location (it was my #2 neighborhood) and less to do with the house itself. I think that helped.
This is pretty much my situation. I had my heart set on another neighborhood. It's the same schools, but just not where I imagined us living.
My husband was in love with our house and I was in like. I'm talking he was full heart eyes emoji during our showing.
11 years on, I LOVE MY HOUSE. Took me about 6 months after we moved in to truly adore it. My hesitations had more to do with location (it was my #2 neighborhood) and less to do with the house itself. I think that helped.
This is pretty much my situation. I had my heart set on another neighborhood. It's the same schools, but just not where I imagined us living.
Is there an update since you started the post ?
We’ve been looking to buy 11 months & I don’t think I’d assume you could sell in 5-6 years with the prices the way it is. Our realtor has told us time and time again to make this closer to a 10 year plan given the market. I appreciate her honesty. She also thinks for the DC area there is a good chance we will see some short sales in the next 6-12 months. If it’s not the house then keep waiting, Just know you may see higher and higher prices as each week follows (again depending on where you are)
We bought a house we didn’t love as a five-year plan....in late 2007. Then came 2008, and we sold 10 years later and it was STILL at a loss. All that to say, I agree with the person above that the skyrocketing prices are reminding me a ton of that time, and I would not necessarily count on selling within five years, unless you don’t mind taking a loss.
With our current house, it was my second choice neighborhood, but it turns out I love it and I am so happy we chose this one instead of what I thought was my first choice.